Friday, August 17, 2007

South Korea biggest investor in Vietnam

SEOUL: South Korea has become the biggest foreign direct investor in Vietnam thanks to its involvement in building new towns and leisure facilities, a state trade agency said on Thursday.

At the end of July its direct investment reached 10.33 billion dollars, according to the Korea Trade-Investment Promotion Agency. Singapore was second with 9.69 billion dollars, followed by Taiwan with 9.1 billion dollars, it said.

In the first seven months of this year alone, South Korea's investment in the country stood at 1.43 billion dollars compared to Singapore's 1.31 billion dollars, the agency said.

Vietnam has become one of South Korea's biggest business partners since they normalised relations in 1992.